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BEIJING, Oct. 26 -- Delegations from more than 84 countries and regions will participate the ITD conference Monday, and a host of international experts from governments, the private sector and academia will make presentations and lead discussions on this important topic.     The ITD is a cooperative venture formed in 2002 and comprised of the International Monetary Fund (IMF), the Organisation for Economic Cooperation and Development (OECD), the World Bank, the Inter-American Development Bank, the European Commission and the UK Department for International Development.     Its purpose is to foster dialogue on important topics in tax policy and administration and to function as a disseminator and repository of information on matters of interest in taxation around the world, through its website, www.itdweb.org.     The IMF attaches great importance to its role as a founding member of the ITD. Recent events in the world economy have made even clearer the necessity of international cooperation and sharing experience in economic matters, and this is the very purpose, which the ITD serves.     The topic of this conference is a timely and critical one. The world has been reminded recently and forcefully of the great importance of the financial sector for macroeconomic stability, growth, and development goals. The sector plays a critical intermediating function - without it credit could not exist, capital could not be channeled to useful purposes and risks could not be managed.     The conference will take place against the background of the worst financial and economic crisis to strike the world in three generations, and, while taxation was not itself the cause of the crisis, elements of the tax system are relevant to its background and resolution.     Most tax systems embody incentives for corporations, financial institutions and in some cases individuals to use debt rather than equity finance.     This is likely to have contributed to the crisis by leading to higher levels of debt than would otherwise have existed - even though there were no obvious tax changes that would explain rapid increases in debt. Tax distortions may also have encouraged the development of complex and opaque financial instruments and structures, including through extensive use of low-tax jurisdictions - which in turn contributed to the difficulty of identifying true levels of risk.     The magnitude of the fiscal challenges facing the world economy is greater than at any other time since World War II.     Estimates done by IMF staff on the fiscal adjustment necessary to bring government debt-to-GDP ratios down to 60 percent by 2030 - over 20 years hence - show a gap in the cyclically adjusted primary balances of some 8 percentage points of GDP in advanced economies to be closed between 2010 and 2020.     This cannot all be accomplished by expenditure reduction. New, or increased, sources of revenue will need to be found, on average perhaps 3 percentage points of GDP. While improvements in compliance and administration could account for some of that gap, it will be necessary to adjust tax policies to a degree not hitherto seen on a wide scale.     Although the world economy remains weak with downside risks and much hardship remain, signs of improvement are thankfully now visible.     This is an opportune juncture, therefore, to begin the work of planning countries' exits from the deteriorated fiscal positions developed in response to the crisis, and to give thought to questions raised by the performance of the financial sector in triggering the crisis.     What role can better tax policies and administration play in preventing a recurrence of this costly episode in economic history?     The financial sector has been, and must continue to be, a critical link in the development of the world's economies. The sector has played a key role in accelerating the development of the emerging markets - many of which, prior to this most recent episode, had grown able to tap the world's financial resources at an increasing rate unparalleled in history.     And for the world's most vulnerable economies, continued financial deepening will be absolutely necessary to permit them to meet their development goals. The upcoming conference will consider the role of taxation in both the industrial and developing countries with respect to these goals.     The conference will address not only the role of the financial sector as a source of revenue itself, and its broader role in the development and growth of the world economy, but also its function in assisting in administration of the tax system-through information reporting, collection of tax payments, and withholding.     This latter role will become ever more important with growing international cooperation in fighting tax evasion and avoidance.     Finally, we must not lose sight of the main function of the tax system - to raise revenue in an economically efficient, non-distortionary, and administratively feasible manner.     Even fully recognizing the existence of both market failures and policy-induced vulnerabilities, including those that contributed to this crisis, it is important to avoid accidentally introducing distortions through the tax system that may prove worse than the evils they are intended to remedy.     "Neutrality" of taxation of the financial sector in this sense is a benchmark against which deviations from this objective may be measured and judged.     One must ask whether any proposed interventions are targeted at a recognized externality or existing distortion, and, if so, whether the proposed action is the most appropriate response. And the multilateral institutions, in particular, must look to the effects which the financial sector and its taxation may have not only on the world's highly developed economies-those with the greatest depth of financial intermediation-but at the effects, direct and indirect, on the world's developing nations.     International cooperation on these matters will be critical to making improvements that will benefit all of us. This week's important event, hosted by the Chinese government and organized by the ITD, is itself a model in this regard.

BEIJING, Oct. 26 (Xinhua) -- Chinese Vice Premier Li Keqiang restated on Monday that the country's quarterly economic growth was quickening and the contribution of domestic demand to economic growth was enhanced.     Li made the remarks at the Third International Tax Dialogue (ITD) Global Conference, which opened in Beijing on Monday. Chinese Vice Premier Li Keqiang addresses the opening ceremony of the 3rd International Tax Dialogue Global Conference in Beijing, capital of China, Oct. 26, 2009.China's economy rose 6.1 percent year on year in the first quarter of this year, 7.9 percent in the second quarter and 8.9 percent in the third quarter, according to statistics of the National Bureau of Statistics.     "We should maintain the continuity and stability of macro-economic policies while enhance the flexibility and sustainability of these policies," he said. Chinese Vice Premier Li Keqiang (1st L) addresses the opening ceremony of the 3rd International Tax Dialogue Global Conference in Beijing, capital of China, Oct. 26, 2009. Li said the global economic recovery was at a crucial stage and governments around the world were facing both challenges and opportunities in the processes of economic structure adjustment and economic model transfer.     He called on the international community to balance the developments of virtual economy and real economy, oppose trade protectionism, provide more supports to developing countries, especially the underdeveloped countries, to promote the all-round, balanced and sustainable development of world economy.     The ITD conference was first launched in 2005 and is held every two years. Theme for this year's meeting which would end Wednesday is "Financial Institutions and Instruments - Tax Challenges and Solutions."

BEIJING, Nov. 17 (Xinhua) -- Chinese President Hu Jintao and visiting U.S. President Barack Obama issued the China-U.S. Joint Statement here Tuesday, expressing the hope that the multilateral mechanism of the Six Party Talks would convene at an early date.     The two presidents reaffirmed in the joint statement the importance of continuing the Six Party Talks process and the denuclearization of the Korean Peninsula.     The joint statement said the two sides will work together with other parties concerned to comprehensively achieve the purpose and overall goal of the Six Party Talks through consultations and dialogues.     "The Chinese side welcomed the start of high-level contacts between the United States and the DPRK," said the joint statement.

BEIJING, Nov. 5 (Xinhua) -- The vice foreign minister on Thursday hailed Vice Premier Li Keqiang's official visit to Australia, New Zealand and Papua New Guinea as "very fruitful," calling it a major diplomatic activity of China with the South Pacific region.     Li's official visit to the three countries from Oct. 29 to Nov.5 was of great significance to the development of friendly cooperative relations between China and the three nations, He Yafei said.     CONSOLIDATING POLITICAL BASIS OF BILATERAL TIES     He said that, during the visit, Li met with Australian Prime Minister Kevin Rudd and Deputy Prime Minister Julia Gillard, and they reached important consensus on the development of China-Australia ties.     Both sides agreed to view their relationship from a strategic and long-term perspective because the importance of China-Australia cooperation is becoming increasingly prominent.     They also agreed to respect and take into full consideration the core interests and major concerns of each country, properly handle sensitive issues and strive to promote sound, steady growth of bilateral relations, He said.     Australia reiterated its respect for China's sovereignty and territorial integrity, and a joint statement was released by China and Australia to strengthen their practical cooperation for mutual benefits.     During his visit to New Zealand, Li met with Prime Minister John Key and Deputy Prime Minister Bill English. They stressed the strategic significance of developing bilateral ties in an active and comprehensive manner and strengthening pragmatic cooperation in various fields.     The New Zealand leaders reiterated that they respected China's stance on issues concerning China's core interests such as Taiwan, Tibet and Xinjiang.     During his visit to Papua New Guinea, Li held talks with Governor General Paulias Matane, Prime Minister Michael Thomas Somare and Deputy Prime Minister Puka Temu.     They pledged to consolidate the traditional friendship between the two countries, promote bilateral cooperation and support each other to advance their relationship. The leaders of Papua New Guinea reiterated their staunch adherence to the one-China policy. 　　PROMOTING MUTUALLY BENEFICIAL TRADE & ECONOMIC COOPERATION     Li and leaders of the three nations stressed that their economies were highly complementary, and deepening mutually beneficial trade and economic cooperation was in line with the fundamental interests of both sides.     They agreed to adopt a strategic approach in their trade and economic cooperation, pledging to actively expand cooperation in technology, new energy, bio-medicine, and environmental protection while promoting cooperation in traditional areas such as energy, mineral resources and agriculture.     Australia expressed willingness to become China's strategic partner in the areas of resources and energy. Both sides agreed to promote the negotiation process of the Free Trade Agreement based upon the principle of positive cooperation, pragmatism, balance and mutual benefits. During Li's visit, the two countries signed two cooperation agreements in telecommunications.     Before and during Li's visit, Australiat approved the application by China's Yanzhou Coal Mining Co., Ltd to acquire full ownership of Felix Resources Ltd.     Australia also approved China's Baosteel Group's second-version application for investing 285 million Australian dollars to acquire a 15-percent stake in Aquila Resources, an Australian coal and iron ore producer.     During his visit, Li and New Zealand leaders agreed to continue to implement the free trade pact between the two countries, and to expand the scale of cooperation in trade and economy.     The two countries signed a series of cooperation agreements on food security, inspection and quarantine and Chinese workers seeking temporary jobs in the island nation.     The leaders of Papua New Guinea said they were willing to advance cooperation with China in some traditional areas such as agriculture, forestry and fishery as well as in energy and resources.     During Li's visit, the two countries signed agreements on economic and technological cooperation as well as on preferential loans.     ENHANCING CULTURAL EXCHANGES     Li also reached consensus with leaders from the three nations on further enhancing friendly cultural exchanges and cooperation and promoting people-to-people links in such fields as education, culture and tourism.     The Chinese delegation endorsed plans with the Australian side for the Year of Australian culture in China in 2010-2011 and the Year of Chinese Culture in Australia in 2011-2012.     Li also said that China would provide a pair of giant pandas to Australia within the year for research purposes.     China signed MOUs with Australia and New Zealand on education and cooperative training programs during Li's visits, and also established a Confucius Institute with Canterbury University in New Zealand.     The Chinese leader also pledged assistance to the three nations in their participation in Shanghai World Expo in 2010.     PROMOTING MULTILATERAL COOPERATION     All three nations spoke highly of China's positive efforts and constructive role in dealing with major issues such as the global financial crisis and climate change.     Li agreed with the leaders from Australia, New Zealand and Papua New Guinea to further promote negotiation, coordination and cooperation in coping with major issues and in multilateral organizations such as the United Nations and the Asia-Pacific Economic Cooperation.     DEEPENING UNDERSTANDING OF CHINA     In his speech to Australian industrial and business leaders, Li made a comprehensive introduction of China's stand and achievement in countering the global financial crisis.     He made clear China's sticking to a path of peaceful development and its adherence to a strategy of opening up that is mutually beneficial.     Li also advanced a three-point proposal on consolidating the China-Australia relationship, which included observing China-Australia relations from a strategic perspective, promoting pragmatic bilateral cooperation in trade and the economy based upon the two countries' complementary strengths, and advancing cultural exchanges in a harmonious and friendly fashion.     The Chinese leader also conducted extensive exchanges with government leaders, managers from enterprises, institutions of higher education, research bodies and media during his visit.     According to He, Li's visit to Papua New Guinea was a show of China's positive attitude toward strengthening relations with Pacific island nations.     China and the Pacific island nations share many common interests and are firm supporters of each other in various major global and regional issues and in international organizations such as the U.N., He said.     China's relations with the Pacific island nations have developed rapidly in recent years, and constitute an important part of China's relationship with other developing countries, He said, adding that two-way trade volume reached 1.76 billion U.S. dollars in 2008.     He said China has been providing a series of economic and technical assistance to countries having established diplomatic relations with China in the region.     China has helped them in infrastructure construction, sent professionals to the region to help develop their economy and carried out numerous training programs, He said.     All those efforts are strong proof that the development of the relationship between China and the Pacific island nations is beneficial to all and has a promising future, He said.

BEIJING, Dec. 9 (Xinhua) -- The Chinese government reiterated Wednesday that to spur "sustainable and fast consumer spending" will be a priority next year, as the world's third-largest economy seeks to break from dependence on export and government pump-priming to drive post-crisis growth.     The government will continue to raise the earnings of the middle and low income groups to boost consumer spending, said a senior official with the nation's top economic planning body.     The government will step up research on optimization the income distribution mechanism to improve residents' purchasing power, Zhang Ping, minister in charge of the National Development and Reform Commission (NDRC), made the remarks at a national meeting charting the ministry's work in 2010.     The rare official stance on improving income distribution echoed the unanimous call from experts and the general public to bridge the yawning wealth gap between the rich and poor, which underlined the government's resolution to address the simmering social conflicts and the urgency to rebalance economic growth.     Zhang said the government will exert more efforts to sort out problems that have close bearing on public interests and ensure that all public members share the fruits of the development and reform, so as to safeguard social harmony and stability.     In concrete, the government will raise the pensions for enterprise retirees and improve treatment for those who enjoy special care. Local education, cultural and health-care facilities will also receive greater subsidy for expansion.     To revive the economic growth which lapsed to a decade low amid the global financial crisis, Chinese government unveiled a 4-trillion-yuan stimulus package, which was led by government investment, to counter falling exports, the driving force of the Chinese economy before the crisis took a toll.     As a result, as the GDP growth accelerated to 8.9 percent in the third quarter, investment contributed 7.3 percentage points while consumption devoted 4 percentage points.     "As the Chinese authorities have recognized that the rapid pace of recovery has exacerbated some of the economy structural imbalances, the authorities will focus on rebalancing growth, primarily by supporting consumption and private investment, with many consumer incentives to be carried out in 2010," said Jing Ulrich, managing director and chairman of China Equities and Commodities of J.P. Morgan.     Also on Wednesday, the State Council, or cabinet, decided to renew the preferential policies introduced early this year to boost car and home appliance sales.     "While investment growth should be managed at a reasonable pace, consumer spending should maintain sustainable and relatively fast expansion," Zhang said.     As investment binge and runaway bank lending prompted fears for asset bubble, Zhang said the government will step up efforts to curb speculative property transaction, and provide more affordable housing to middle and low income families.

来源：资阳报